Houston Tech Jobs Supported by Biofuel Funding
A new round of funding will not only support Houston tech jobs, but also will help the State of Texas in its efforts to become more energy-efficient.
The Texas Emerging Technology Fund recently announced that it will invest $2.75 million in Terrabon Inc. The company plans to use the funding in a collaborative effort with Texas A&M University to commercialize a technology that converts non-food biomass into biofuels - an important step in pursuing new clean energy solutions.
"As our population grows by about 1,000 people a day, we must ensure our energy supply keeps up with increasing demand," Gov. Rick Perry said. "Now is the time to tackle that challenge, and we're using the Texas Emerging Technology Fund and this investment in Terrabon’s biofuels technology as a key tool in that effort."
The technology invented by Houston-based Terrabon converts such materials as solid waste, sewage, forest product residues, and non-edible energy crops into chemicals and secondary alcohols that when further refined can produce non-ethanol gas, jet fuel, or diesel.
"This investment by the Texas Emerging Technology Fund will play an integral role both in confirming the potential of our technologies and in expediting our plans for commercial deployment," Terrabon CEO Gary Luce said.
The TETF - a $200 million initiative - was created in 2005 by the Texas Legislature to allow high-tech leaders, entrepreneurs and research experts to review projects and recommend funding allocations to state officials. The program has allocated more than $157 million in funding to 112 early-state companies and $161 million in grant matching and research funds to universities throughout Texas.